Scalping Future Indicator for MetaTrader 4 – Free Download [TradingFinder] – MT4/MT5 Resource
The Scalping Future indicator is designed to identify the direction of order flow and the intensity of buyer or seller pressure.
This trading tool appears on the MetaTrader 4 chart as green and red arrows, in addition to the text signal " BUY " or " SELL " also displayed in the corner of the chart.
Scalping future indicator table
The general characteristics of scalping futures are shown in the table below:
| Indicator categories: | Signals and Predictions MT4 Indicators Trading Aids MT4 Indicators |
| Platforms: | MetaTrader 4 Indicators |
| Trading Skills: | Elementary |
| Indicator Types: | Inverse MT4 Indicator |
| Time frame: | Multi Time Frame MT4 Indicators |
| Trading Style: | Intraday MT4 Indicators |
| Trading Tools: | Stock MT4 Indicator Index Market MT4 Indicator Commodity Market MT4 Indicator Stock Market MT4 Indicator Cryptocurrency MT4 Indicator Forex MT4 Indicator |
A look at future indicators for scalping
The scalping futures indicator does not use complex calculations or multiple layers of filters, but instead shows the market direction directly on the chart with up and down arrows, as shown below:
- Green Arrow : Indicates buying pressure
- Red Arrow : Indicates selling pressure
- Textual Signal : Displays simple text (Buy) or (Sell) at the top of the chart
Indicators are in an upward trend
The chart below shows the USD/JPY currency pair on the 5-minute time frame. After a downward correction, the scalping futures indicator draws a green upward arrow on the candle.
At the same time, at the bottom of the chart, the text signal " BUY " appears, creating a suitable area to enter a buy trade.
Indicators are in a downward trend
On the 1-minute chart of the Nasdaq 100, the scalping futures indicator shows a red downward arrow on the candle after a bullish rally and the price reached the resistance zone.
At the same time, at the bottom of the chart, the text signal " SELL " appears, providing a suitable area to enter a sell trade.
Scalping Future Indicator Settings
The image below shows the settings panel of the Scalping Future indicator:
- FilterPeriod : Display filter period
- SL_distance_pips : Set stop loss distance (in pips)
- ALERT : Create an in-software alert
- EMAIL : Send email alerts
- NOTIFICATION : Send signal as notification
- MESSAGE_TIMEOUT : The time interval between two consecutive messages or alerts
- MESSAGE_SUBJECT : The subject line of the email alert
Conclusion
The Scalping Future indicator is one of the visual and practical tools that clearly highlights the relative strength of buyers and sellers by displaying green and red arrows and text signals “ BUY” and “ SELL, ”.
Although designed for scalping trades , this indicator provides the best performance on higher timeframes due to the reduction of false signals.
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